FX.co ★ Trading plan for the European session on June 18 GBP/USD

To open long positions for GBP/USD, it is required:

Buyers of the pound will show themselves in the support area of 1.3252, but it is best to open long positions immediately on the rebound in the area of 1.3213. The main task for the first half of the day will be to return and consolidate on the resistance of 1.3283, which will lead to a small upward correction to the area of 1.3315 and 1.3346, where I recommend profit taking.

To open short positions for GBP/USD, it is required:

Sellers will try to gain a foothold below the support of 1.3252, which will lead to the formation of a new downward wave in the area of 1.3213 and 1.3146, where I recommend to lock in profit. In the event of a rise in the resistance of 1.3283 in the first half of the day, selling of the pound can return to a rebound from 1.3315 and 1.3346.

Indicator description

• Moving Average (average sliding) 50 days - yellow
• Moving Average (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20